Two Automakers That Have Joined the Race to Bring Low-Cost

question 45

Multiple Choice

Two automakers that have joined the race to bring low-cost cars to the emerging Indian market are:

• A)Mercedes and Lexus.
• B)Toyota and Ford.
• C)Tata and Nissan.
• D)Tata and Toyota.
• E)Nissan and Toyota.

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Definitions:

Detrimental Reliance

A legal concept where a party suffers a loss because they relied on a promise or representation that was later breached or not fulfilled.

Creditor

A creditor is an entity (person or institution) that lends money or extends credit to another entity, expecting to be repaid in the future.

Sole Proprietor

An individual who owns and operates a business alone, bearing full responsibility for its debts and obligations.

Profitable

Describes a situation, project, or enterprise that results in financial gain or benefit.